2022-03-31-accounts - Universities Federation For Animal Welfare

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UFAW Report and Financial	Statements: Year Ended 31March 2022
Contents		Page
Legal and Administrative	Information	2-3
Council's Report		4-19
Independent Auditors'	Report to the Members	20-22
Statement of Financial	Activities	23
Balance Sheet		24
Cash Flow Statement		25
Notes Forming Part of	the Financial Statements	26-33

Vice-Presidents:	L A Brown MBE BVScBA PhD FRSBMBA FRCVS
	Professor P H Holmes OBE BVMS PhD FRCVS FRSE
	8 Howard BVMS PhD FRCVS
	3 H Pratt BVMRS DVSM FRCVS
	G DSales BScPhD AKC MRSB DipTCDHE

CounciL
(who are the Directors	ofthe Limited Company)
Chairman:	A G Simmons BVMS MSc MRCVS (until 13.10.21)"'
	M Radford OBE LLB(from 14.10.21)'
Vice-Chairman:	M Radford OBE LLB (until 13.10.21)'
Honorary Treasurer:	C McCann BScACA"
	SAbeyesinghe BScMSc PhD
	Professor R M Bennett BScMSc PhD"
	3 Downes BVScMRCVS
	A Enticknap PhD
	Professor A Nolan OBE MVB DipECVA DipECVPT DVA MRCVS (until 13.10.21)
	A Olsson MSc PhD'
	D Pritchard BScBVetMed MPH MRCVS'
	D RSargan MA PhD A G Simmons BVMS MSc MRCVS (from 14.10.21)"'

				Note		Unrestricted	Restricted		Total Funds		TotalFunds
						Funds	Funds		2022		2021
						E	E		E		E
Incoming Resources
Voluntary Income:
Subscripfions 8 Donations						37,687	206		37,893		25,167
Appeals						2,990			2,990		1,130
Legacies						58,477			58.477		94.299
						99154	206		99,360		120,596
Charitable Activities:
Publications						89.793			89,793		91,841
Royalties & Lecture Fees						8.412			8,412		25,263
Symposium											4,293
Interest &Recoveries						33			33		68
						98,238			98,238		121.465
Investment Income
Interest Bearing Deposits						39.567			39,567		19.788
Securities						134.551	11,616		146,167		165.136
						174.118	11,616		185,734		184.924
Total Incoming Resources						371,510	11,822		383,332		426,985
Resources Expended
Costs ofGenerating Funds						78.828	6,812		85,640		88,916
Charitable Activities						378.375			378,375		309,586
Other Resources Expended						178,903	15		178,918		167.806
Total Resources Expended						636.106	6,827		642,933		566,308
Operational (Outgoing)/incoming			Resources for	the Year *	(	264,596 )	4,995	(	259,601 )	(	139,324 )
Other Recognised Gains &Losses:
Net Realised Gain/(Losses)	on	Investmenls				444,926			444,926		98,588
Net Unrealised Gains/(Losses)		on	Market Value of
Investments				6, 10,11	(	209,431 )	56,706	(	152,725 )		1.427,666
Net Movement afFunds						(29,101)	61,701		32,600		1,386,930
Balance Brought Forward						8,128,837	596.211		8.725,048		7,338.118
Balances Carried Forward				10,11,8 12		8,099,736	657,912		8,757,648		8,725,048

			Note	2022	2021
Fixed Assets
Tangible Fixed Assets				402,415	406,850
Investments				8,058,372	8,042,533
				8,460,787	8,449,383
Current Assets
Debtors				35,111	37,066
Money Market &Deposit Accounts				392,294	308,952
Cash at Bank and in Hand				29,214	22,277
				456,619	368,295
Current Liabilities
		One Year	8	159758	~87630
Net Current	Assets			296861	280,665
Total Assets less Current Liabilities				8,757,648	8,730,048
Creditors:	Amounts	Falling Due after More than One	9		5000
Net Assets				8,757,648	8,725,048
l-unas
Unrestricted			10	8,099,736	8,128,837
Restricted			11	657,912	596,211
				8,757,648	8,725,048

			Note	2022	2021
Net cash inflow/(outflow) from operating	activities		16	(366,891 )	( 314,816 )
Returns on investments and servicing of	finance		17	185,734	184,924
Capital expenditure and financial investment			17	271 437	219556
Increase/(decrease) in cash in the period				0 280	89,664
Reconciliation ofnet cash flow to movement		in net debt	18
Increase/(decrease) in cash in the period				90280	89,664
Movement in net debt in the period				90,280	89,664
Cash and Cash Equivalents at the start ofthe		Year		331 229	241 565
Cash and Cash Equivalents at the end of	the	Year		421 509

									Total
							Unrestricted	Restricted	Funds
Note							Funds	Funds	2022	2021
							6			6
2	Costs ofGenerating		Funds
		Fundraising			& Publicity Costs		33,225	6,812	40,037	46,380
		Investment			Management Fee		45,603		45,603	42,536
							78,828	6,812	85,640	88,916
3	Charitable	Activities
			Scientific Staff Salaries				235,790		235,790	204,221
						University Links	2.322		2,322	4,141
		Early Career		Scientist of the Year			1,000		1,000	1,000
						UFAW Medal	1,005		1,005	1,008
					Research Awards		71,539		71,539	26,977
	Animal Welfare			Student Scholarships			23,884		23,884	20,433
						Publications	39,170		39,170	29,637
					Fees & Expenses		1,378		1,378	4,017
			E-Commerce/Website				2,287		2,287	2,862
		Garden		Bird		Project Support				15,000
						Symposia				290
							378,375		378,375	309,586
4	Other Resources Expended
		Legal and			Professional Fees		7,266		7,266	2,424
						Audit Fee	5,940		5,940	5,700
		Administration				Staff Salaries	96,953		96,953	110,580
						Office Costs	58,185	15	58,200	39,668
						Bad Debts	1,198		1,198	2
						Depreciation	9,361		9,361	9,432
							178,903	15	178918	167,806
	Staff Costs
						Salaries	290,657	6,812	297,469	288,696
						Social Security	37,154		37,154	37,068
						Pensions	32,179		32,179	31 106
							359,990	6,812	366,802	356,870

			FOR THE YEAR END	ED 31 March 20	ED 31 March 20	22
				Freehold
				Land	and	Fixtures &
				Buildings		Equipment	Total
5	Tangible Fixed Assets			E		E	E
	Costs or Market Value
	At 1 April 2021			413,333		55,394	488,727
	Additions					4,925	4,925
	At 31 March 2022			413,333		60,319	473,652
	Depreciation
	Accumulated Depreciation at 1 April 2020			11,481		50,395	61,876
	Charge for the Year				6,888	2,473	0361
	At 31 March 2021			18,369		52,868	71,237
	Net Book Value at 31 March 2022			394,964		7,451	402,415
	Net Book Value at 31 March 2021			401,852		4,998	406,850
	Histodcal Freehold	Buildings
	Cost
	At 01.12.1997			280,000
	Depreciation
	Depreciation at 1.4.21			108,500
	Charge for the year			4,667
	At 31 3.22			113,167
	Historic Net Book	Value at 31.3.22		166,833
						2022	2021
6	Investments					E	E
	Quoted
	Market Value at 1 April 2021					8,042,533	6,737,357
	Additions at Cost					1,282,571	1,389,185
	Less Disposals at Book Value					(1,163,911)	( 1,417,224 )
	(Decrease)/increase		in Balance with Stockbroker			49,904	(94,450)
	Net Unrealised Gains/(Losses)					1527251	1 427,666
	Market Value at 31		March 2022			~05	8,042,633
			Analysis	UK		E4,887,625	4,989,678
				Overseas		E3,170,746	3,052.855
	Historical Cost at 31 March 2022					6,207,793	6 088 656
7	Debtors					2022	2021
							E
	Tax Recoverable					1,978	1.771
	Prepayments					24,473	19,710
	Legacies
	Other Debtors					8,660	15505
						35,111	37066
8	Creditors Amounts		falling due in one
	year					2022	2021
						E
	Trade Creditors					133,333	57,343
	Tax and Social Security
	Accruals					26,425	30,287
						150760	87,630

												2022	2021
9	Creditors:	Amounts		Falling	Due After		More than	One Year				E	E
	Trade Creditors:		Within two to			four years							8 6M
													5.000
								Incoming &				Unrealised
								Realised		Expenditure		Gain/(Loss)
							Balance	Gains in the		in the year		on	Balance
10	Unrestricted	Funds					31.3.21	year				Investments	31.3.22
							E	E		E		E	E
	Unrestricted	General		Funds			8 128837	816436	(	636,106)	(	209,431 )	8099736
							8,128837	816,436	(	636,106)	(	209,431 )	8,099,736
								Incoming &				Unrealised
								Realised		Expenditure		Gain/(Loss)
							Balance	Gains/losses		in the year		on	Balance
11	Restricted	Funds					31.3.21	in the year				Investments	31.3.22
							E	E					E
				Leigh	Brown		17,038	431				2,447	19,916
			Lorna Gascoigne				154,592	336				19,796	174.724
				Tomlin	Taylor		38,486	1,003				5,623	45.112
				Pennie		Bette	210,014	5,714				31,032	246,760
			UFAW/SAW		I	Fund	176.081	4,338 ~2	(	6,827 )	(	2,192) ~06	171,400 ~657912

Analysis of	Assets	Between Fund	s
				Tangible			Current	Assets
				Fixed Assets	Investments		less Creditors		Total
				E	E		E		E
Restricted	Funds
		Leigh	Brown		19,916				19,916
		Lama Gascoinge			174,724				174,724
		Tomlin	Taylor		45,112				45,112
		Pennie	Bette		246,760				246,760
		UFAW/SAWI	Fund		171,950	(		550 )	171,400
					658,462	(		550 )	657,912
Unrestricted				402,415	7,399,910			297,411	~8,099736
				452415	~8058 2			299686	~85 6 8

Reconciliation ofthe Net (Outgoing)/Incoming	Reconciliation ofthe Net (Outgoing)/Incoming	Reconciliation ofthe Net (Outgoing)/Incoming	Reconciliation ofthe Net (Outgoing)/Incoming	Reconciliation ofthe Net (Outgoing)/Incoming		Resources	Resources	to Net Cash Inflow/(Outfiow) from	to Net Cash Inflow/(Outfiow) from	Operating	Operating
Activities)
									2022		2021
Net incoming/(outgoing)	resources								32,600		1,386,930
Profit on disposal of Investments								(	444,926 )	(	98,588 )
Interest received								(	185,734 )	(	184,924 )
Depreciation charges									9,361		9,432
Unreaiised (gains)/losses	on investments								152,725	(	1,427,666 )
(Increase)/decrease in debtors									1,955
(Decrease)/Increase in creditors Net cash inflow/(outgow) from operating				activities				67 128 ~366 6
Analysis ofCash Flows	for Headings		Netted		in	the Cash		Flow Statement
									2022		2021
Returns on investments	and servicing		of	finance					E		E
Interest received									185734		184924
Net cash inflow for returns on investments offinance					and	servicing			~57
Capital expenditure and	financial	investment
Purchase oftangible fixed assets								(	4,925 )	(	1,522 )
Purchase offixed asset investments								(	1,332,475 )	(	1,294,735 )
Sale offixed assets investments									444,926		98,588
Sale of fixed asset investments									1,163,911		1,417,224
Net cash (oufflow)/inflow financialinvestment	for capital expenditure					and			~271437		219,556
Analysis ofChanges in	Cash and	Cash Equivalents					at
Bank								As at 1.4 21	Cash flow		At 31.3.22
								8	E
Net Cash:
Cash at bank								331229	90280		421 509
Total